- 20 Marks
CSMCE – OCT 2022 – L2 – Q7 – Short Notes on Marketing Concepts
Short notes on reach, product life cycle, interpersonal skills, and distribution channels.
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The management of a bank has decided to establish five new branches at vantage locations in the next quarter to attract new customers. You are the chairperson of a committee that is to conduct market research and identify the locations for establishing the new branches. Given the importance of the report, and the limited time available, the Committee has decided to adopt Information Technology in the conduct of the research.
a) Identify five (5) ways in which Information Technology could be applied in the conduct of the market research. [10 Marks]
b) Describe five (5) methods for collecting qualitative data and explain how IT could be used in any two of the data collection methods. [10 Marks]
[Total: 20 Marks]
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The COVID-19 global pandemic and associated lockdowns compelled many financial institutions to adopt virtual approaches to service delivery to their customers. With many researchers predicting the reoccurrence of such pandemics, executives of financial institutions have expressed a keen interest in the concept of a virtual organization (VO), how to run an effective virtual organization, and the ensuing challenges. Explain what a virtual organization is and discuss the managerial and technical issues in running a virtual organization.
[20 Marks
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The Accountant advised the CEO that to strengthen governance, the Board should concern itself with the establishment of strong internal control systems. Failures or weaknesses in internal controls will have adverse consequences for HPC’s finances, financial reporting, operational efficiency and effectiveness, or regulatory compliance.
Required:
Write a paper, explaining FIVE (5) factors to the Board the nature of internal controls that could be instituted by HPC to strengthen governance. (10 marks)
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In reference to Ghana’s Code of Best Practices in Corporate Governance, discuss FOUR (4) key issues that could determine how well or badly HPC is governed, taking into consideration the intention and business relationship of the Board Chairman. (10 marks)
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b) The promoters of Adzeku Company, made a contract on its behalf with Ansah Oko before the company came into existence. The company once formed, purported to ratify the contract, but then went into liquidation, and the promoters themselves were sued on the contract. The promoters argued that they had been contracted as agents, and that the liability on the contract had passed to the company by ratification.
Required:
i) From the facts of the scenario above, explain if the defence set-up by the promoters is valid. Advise the promoters. (8 marks)
ii) State briefly, if it is lawful for a company limited by guarantee to be incorporated with the object of carrying on business for the purpose of making profits. (2 marks)
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a) The Krachi Assembly having an Airport in its locality grants a single concession to operaters for pleasure flight from the airport. For a period of ten years that licence had been held by the Njoku club. When the concession came up for renewal, the Assembly decided to invite competitive tenders for it. Tenders were to be submitted by 12:00 pm on a given day. The Assembly’s, letter box was not cleared between the time of the club posting its tender and the closing time for the bids, with the result that the club’s tender was not considered.
The club claimed that the Assembly was in breach of a contract as it has not considered all tenders received before the deadline.
Required:
The Njoku club, in the case above, claimed that the Assembly was in breach of a contract for not considering all tenders received before the deadline. Explain. (5 marks)
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b) Kojo Mintah is a partner in a firm of surveyors. While travelling in the course of an approved duty in the firm’s car, he bought GH¢500 worth of fuel for the use of the car. He submitted the receipt of purchase to the managing partner for refund. The managing partner has refused to pay.
Required:
i) State TWO (2) liabilities imposed on partners and TWO (2) liabilities imposed on the firm by the Incorporated Private Partnership Act, 1962 (Act 152).
(4 marks)
ii) Advice Kojo Mintah on his claim. (4 marks)
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a) One of the key officers of a company who keeps the books and records, is the company secretary. The Companies Act, 2019 (Act 992) compels the appointment of a company secretary on certain qualifications.
Required:
i) State THREE (3) qualification requirement for the appointment of company secretary as stipulated in the Companies Act, 2019 (Act 992). (6 marks)
ii) List THREE (3) offences and related legal wrongs that automatically disqualifies a fraudulent person from appointment as a director of a company. (6 marks)
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b) AirQuick is one of the world’s leading aerospace companies. AirQuick and the Ghana Civil Aviation Authority have conducted a feasibility study in Ghana with the intent of setting up a subsidiary in Ghana. The study which ran for two years has been concluded and a new subsidiary office of AirQuick has just been established in Ghana to serve the West African hub. You have been given a two-year contract in the legal department.
Required:
i) As a business law expert, you have been asked to suggest TWO (2) ways to finance or sustain the activities of the AirQuick Ghana office. (6 marks)
ii) Explain ONE (1) advantage and ONE (1) disadvantage of each financing source identified in i) above. (4 marks)
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a) Kojo Adams was employed by Zinto Breweries Ltd to drive the company’s van. Without permission, Kojo Adams took the van from his employer’s garage in order to deliver a child’s coffin at the home of a relative. While he was returning the van to the garage, he picked up some empty beer barrels, and was afterwards involved in an accident which injured one Kosaa. Kosaa took legal action in court against Kojo Adam’s and Zinto Breweries Ltd.
Required:
i) Identify TWO (2) issues that arise from this case.
(4 marks)
ii) Explain the chances of Kosaa in her action against Zinto Breweries Ltd.
(4 marks)
iii) Advise Kojo Adams.
(2 marks)
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b) Essuman is an Accountant, who agreed with Odumadze, a garage proprietor, that he will assist Odumadze with his annual tax returns if Odumadze would service his car for him. Essuman also agreed with Adjei, a landscape gardener, that he will advise him (Adjei), on the installation of a computerized financial management system if Adjei, in return, will carry out some landscape work at the house of Essuman’s daughter, Njama. Essuman assisted Odumadze and advised Adjei, but both (Odumadze and Adjei) refused to honour their side of their respective agreements. On his way to an important meeting, Essuman’s car broke down and he was very late for the meeting. As a result, Essuman lost a deal worth GH¢250,000 per annum to another Accountant. On the other hand, Njama was very anxious to have the landscape work done on her garden by Adjei because of his reputation for doing quality work. Essuman is very worried and hurt.
Required:
i) Explain what is meant by breach of contract.
(4 marks)
ii) Explain the nature of TWO (2) contractual remedies available to Essuman and Njama, in the context of the facts of this scenario. (6 marks)
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Kwesi Mensah agreed to write a series of articles for Akem Juvenile Library on costume and ancient armour, to be published by instalments in Junior Graphic. When the work was partly completed up to about 70%, Akem Juvenile Library abandoned the series, without justification and or notice. Two publications have been done in Junior Graphic.
i) Explain whether Kwesi Mensah would be entitled to some remuneration in the circumstance of the facts of the case. (5 marks)
ii) Explain TWO (2) situations in which a contract can be discharged. (5 marks)
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Pepo Ghana Ltd operated three accounts at the Arena branch of Coin Bank Ltd. On 27 May 2020, the Financial Intelligence Centre (FIC) in a letter, directed Coin Bank Ltd to freeze all the accounts of Pepo Ghana Ltd.
i) Explain money laundering and explain TWO (2) stages of money laundering. (6 marks)
ii) List TWO (2) anti-corruption institutions in Ghana.
(4 marks)
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